Madinet Masr is launching its first North Coast project in partnership with Reedy Development

Madinet Masr is launching its first project on the North Coast, partnering with Reedy Development on a 101-feddan project at KM 183, according to a press release (pdf). Reedy will develop and manage the project as master developer, while Doors Real Estate — a Madinet Masr subsidiary — will handle sales and marketing. Further details on the project, including its ticket size and construction timeline, are yet to be announced.

REMEMBER- CEO Abdallah Sallam flagged last year that a North Coast expansion was in the cards, adding that the coast has become a destination for fully integrated cities operating year-round.

Egypt-Syria business bridge

The Egypt-Syria Business Council formation is now complete after the investment and external trade minister issued a decree last week appointing the members representing the Egyptian side. The appointments include Chairman of the Port Said Chamber of Commerce Mohamed Saada as co-chair and Chairman of Taqa Arabia Khaled Abubakr, alongside several other private sector executives spanning sectors like construction, real estate, steel, pharma, and food processing.

This comes almost four months after Syria finalized its own side of the council, with Syrian businessman and CEO of Karim Metal and Mechanical Industries Ghassan Karim tapped as co-chair at the time.

REMEMBER- Egyptian capital is yet to make any major commitment in Syria, but the domestic private sector has been eyeing reconstruction prospects in sectors like iron and steel, alongside infrastructure projects, amid diplomatic warming at the government level, as we’ve previously reported.

Making the temporary permanent

CID has shareholder sign-off to move ahead with its EGX offering: State-owned drugmaker Chemical Industries Development’s (CID) general assembly approved taking the company through the listing and offering process and gave the board the green light to bring in the advisers needed to get it done, according to a bourse filing (pdf). Shareholders also approved tripling authorized capital to EGP 1.5 bn from EGP 500 mn, while issued and paid-in capital stays at EGP 400 mn. The state’s Holding Company for Pharmaceuticals, Chemicals and Medical Supplies (HoldiPharma) currently owns all 40 mn shares.

And the clock is ticking: CID has been temporarily listed under the healthcare and pharma sector since 20 May 2026, giving it six months to register with the Financial Regulatory Authority and apply to execute the offering. That window closes in November, and there’s still no fair value, prospectus, or stake size on the table.

More on our radar

• Breadfast is moving into restaurant delivery, launching Breadfast Food alongside its existing groceries, bakery, coffee, and pharma offerings. The company is also planning to expand the service to more governorates. (Press release, pdf)
• EG Bank’s youth and startup incubator MINT partnered with Saudi venture studio Value Makers Studio (VMS) to help Egyptian startups expand into Saudi Arabia. (Al Mal)
• The International Finance Corporation is targeting a local investment portfolio exceeding USD 1.6 bn for FY 2026/27 across infrastructure, renewable energy, manufacturing, tourism, agriculture, food processing, banking, and capital markets. (Hapi)
• Kuwait’s Emeel Abdalla Investment Group is targeting a September launch for its Tameh real estate investment fund, with EGP 1 bn in planned offerings. (Hapi)
• The Financial Regulatory Authority is reviewing around 25 applications to launch new real estate investment funds, putting a firmer number on the more-than-20 pipeline we reported last month. (Asharq Business)